Towards a pluralistic understanding of Chinese homeowners: the case of ‘ordinary’ buyers

Abstract

In this paper we address 'ordinary' Chinese buyers in London's residential real estate market. We argue that current academic and policy analysis, particularly of elites, has focused on the higher-end of the market and over-emphasised the detached nature of international buyers. In contrast, building on, but departing from, existing analyses of the multiple classes of Chinese investors evident in London (see Glucksberg, 2016), we reveal the tactics and motivations of buyers with budgets of less than £500,000. We show that they are motivated by good schools, easy commutes and use similar technologies to mediate and understand the market to local buyers. Such aims and approaches, we argue, show the ordinariness of many Chinese buyers. Underpinning their aims is an aspirational, class-defined desire based on making sacrifices so their children can have a 'normal British life'. This becomes an elective belonging, as they integrate into the norms of London's housing market. In demonstrating how the realities of ordinary buyers contrasts with existing narratives of Chinese investors, we highlight plurality of experiences, strategies and aims of Chinese people buying homes. We argue such an understanding forces us to rethink the form and character of Chinese investment practices in western cities by de-centring London's prime areas and purchasers when analysing property acquisition's internationalisation. In turn this evidences the false binary of local and international demand and shows the complexities hidden behind narratives of international capital. 'contributed to the growth of protectionist and xenophobic discourses

The Motivations of Chinese Individual Foreign Investors in the Australian Residential Real Estate Market

“…The potential returns pos-sibly not only pay for the school fees in Australia but also provide profits beyond school fees. The abovementioned Agent statement shows the role of real estate agents in understanding markets for their targeted investors (Frances Brill & Raco, 2020).…”

Practising comparative urbanism: Methods and consequences

“…For example, employing this strategy shaped how I juxtaposed the way developers are depicted in the media with how real estate professionals understand the term “the developer.” Comparing the developers across Johannesburg and London, specifically a white English developer and two Chinese developers, made me question the role of “China in Africa” discourses (see also Reboredo & Brill, 2019). I took that problematic to London to think about the narratives around “China in England” and, in doing so, the lesson from Johannesburg challenged me to think more comprehensively about the geo‐politics of real estate development and how this impacted the way Chinese actors are understood in London (see Brill & Raco, 2020; Raco et al, 2021).…”